Wednesday, February 21 , 2018, 10:38 am | Fair 58º



Community Bank of Santa Maria Reports 20% Rise in Net Earnings

Steady growth continues at Community Bank of Santa Maria, with net earnings up 20.22 percent.

The bank’s third-quarter earnings were recently released by Jim Glines, chief executive officer, and Janet Silveria, president and chief operating officer.

Net earnings were $674,736 for the quarter ended Sept. 30, compared with $561,246 at Sept. 30, 2013.

The two executive officers were pleased with the bank’s performance, especially the increase in net profits, and said it was a clean operation with no regulatory issues. On Sept. 30, the bank had no loans that were more than 30 days past due, no loans on non accrual, and nothing in their "Real Estate Owned" portfolio.

Other important numbers were also impressive for Community Bank of Santa Maria. Growth in total deposits was up 6.43 percent when comparing the bank’s total deposits of $167,969,084 at Sept. 30, 2013, to total deposits of $178,767,608 reported at Sept. 30, 2014. Total loans for the quarter ended Sept. 30, 2013, were $ 105,194,518 which represents an 11.8 percent increase to the $117,235,364 reported at Sept. 30, 2014. Likewise, total assets of the bank at Sept. 30, 2013, were $187,602,459 and reflected a 6.37 percent increase to $199,549,585 at Sept. 30, 2014.

Glines thanked the loyal customers of the bank.

“They support our style of banking and see that the bank is increasing its asset base and its earnings as the economy continues to show sustained recovery,” he said, and emphasized that the bank has money to loan. “Every decision is made at a local level. No 800 numbers in this bank. Come in and talk to a decision maker.”

Community Bank of Santa Maria opened for business on March 1, 2001, and presently has three branch locations: South Broadway, Oak Knolls and Lompoc Community Bank, a division of Community Bank of Santa Maria.

— D.C. Carter is a publicist representing Community Bank of Santa Maria.

  • Ask
  • Vote
  • Investigate
  • Answer

Noozhawk Asks: What’s Your Question?

Welcome to Noozhawk Asks, a new feature in which you ask the questions, you help decide what Noozhawk investigates, and you work with us to find the answers.

Here’s how it works: You share your questions with us in the nearby box. In some cases, we may work with you to find the answers. In others, we may ask you to vote on your top choices to help us narrow the scope. And we’ll be regularly asking you for your feedback on a specific issue or topic.

We also expect to work together with the reader who asked the winning questions to find the answer together. Noozhawk’s objective is to come at questions from a place of curiosity and openness, and we believe a transparent collaboration is the key to achieve it.

The results of our investigation will be published here in this Noozhawk Asks section. Once or twice a month, we plan to do a review of what was asked and answered.

Thanks for asking!

Click here to get started >

Support Noozhawk Today

You are an important ally in our mission to deliver clear, objective, high-quality professional news reporting for Santa Barbara, Goleta and the rest of Santa Barbara County. Join the Hawks Club today to help keep Noozhawk soaring.

We offer four membership levels: $5 a month, $10 a month, $25 a month or $1 a week. Payments can be made through PayPal below, or click here for information on recurring credit-card payments.

Thank you for your vital support.

Reader Comments

Noozhawk is no longer accepting reader comments on our articles. Click here for the announcement. Readers are instead invited to submit letters to the editor by emailing them to [email protected]. Please provide your full name and community, as well as contact information for verification purposes only.

Daily Noozhawk

Subscribe to Noozhawk's A.M. Report, our free e-Bulletin sent out every day at 4:15 a.m. with Noozhawk's top stories, hand-picked by the editors.

Sign Up Now >

Meet Your Realtor Sponsored by Village Properties

Elizabeth Wagner
"I consider myself to be an up front and honest agent and willing to talk my clients out of purchasing a property that isn’t right for them or won’t meet their needs in a year or two."

Full Profile >